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ARK Buys $2.5 Million in Coinbase Shares as COIN Continues Rally

Cathie Wood's crypto conviction continues as ARK made another Coinbase (COIN) buy Thursday.

Coinbase is now the 12th-largest holding for the ARK Innovation ETF (ARKK), behind CRISPR Therapeutics and game engine developer Unity, taking up 3.87% of the fund's weight. Overall, ARKK has a cost average of $254.65 for COIN.

COIN is currently trading at $47.55, up 8.6% on-day, or 23% during the past month. Analysts are predicting a mean price target of $61.46, according to data compiled by FactSet.

Coinbase tokenized stock FTX Coinbase tokenized stock FTX $87.77
+23.12%
Cathie Wood Coinbase
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